THE FORESIGHTS OF THE ADOPTION OF EURO

Claudia Loredana Juncu
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Claudia Loredana Juncu: Academy of Economic Studies, Bucharest, Romania

Annals - Economy Series, 2012, vol. 2, 215-221

Abstract: Even if the Euro critics showed the warning that the change of the national currency brings a loose of the control and the decision power about the monetary problems and the flexibility of the decisions, many consider that the adoption of the single currency would allow us to protect the economies from the external shocks. We have to eliminate the uncertainty, the high costs and we have to be able to avoid and / or manage the monetary fluctuations especially in situations like today’s economic crisis. One of the effects the crisis has created throughout the European Union and especially in Romania is connected with the return back in the country of the population that works in Western Europe and the reflux of money it implies. The structural problems of the Romanian economy that creates this workforce dynamic is to continue to affect the Euro adoption plan until significant solutions will be addressed in order to maintain the workforce in the country. Europe is facing a dilemma. For now there is a significant distrust in Euro. Romania needs to acknowledge the fact that a single European currency allows first of all the overpass of the actual internal fragmentation of the market and so to strengthen the national position in relation with the international. Romania can still be optimistic about the objective of adopting Euro if an efficient financial policy will be implemented.

Keywords: adopting Euro; economic crisis; Monetary Union; European Union (search for similar items in EconPapers)
Date: 2012
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